Arm Soars 25% in the Year’s Biggest Initial Public Offering

Arm Soars 25% in the Year’s Biggest Initial Public Offering

chip designer arm starts trading Thursday on New York’s NASDAQ exchange

after a blockbuster share offering.

it secured a valuation of $54.5 billion at the top of its target

range.

That marks a good outcome for Japanese owner Softbank.

Last year.

it had planned to sell arm to chipmaker NVIDIA for just $40 billion.

It abandoned the deal amid opposition from competition watchdogs.

Instead.

it retained control and has now raised close to $5 billion through the

IPO.

the biggest of the year.

The success of the sale was in little doubt after arm attracted a roll call of

big name investors.

Among those to buy in were chip giants Intel and A MD consumer

titans Apple and Samsung and Google parent firm Alphabet.

Some investors do have their doubts.

though.

pointing to weak demand for mobile phones.

the main market for arms chips.

But the firm says it sees strong growth ahead in other sectors.

including cloud computing and cars

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